ITC India is bullish and the top performer in the Nifty for 2023. Now in a pullback - obviously everyone is thinking about how to get in.
ITC results were outstanding and the street has high targets. However buying at Life highs is fraught with risk - so how to do that successfully is what this 2 min video is about.
Disclaimer - I am long ITC and looking at a...
Key level 240 . Above 240 structure will finally change to a bullish scenario. If rejected from 240 , it is more vulnerable to create a new low breaking the level of 135.
Trading strategy :
Key level is 210
1. Go long above 210 keeping a mino Stop loss of 203 , for the target area of 240 & later 280.
2. Go short below 210 if it starts rejecting from the zone of 210-220 for the target of 190/175.
3. If it starts taking support near the zone of 175-180 again go long with that recent low as SL & ride till 210 & above 210 follow plan 1.
